Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is Options:
  A) target return pricing
  B) market skimming
  C) variable pricing
  D) market penetration
  Show Answer
  The correct answer is B .
• Question 2: The promotion of savings culture is a feature of a? Options:
  A) trade association
  B) consumers' cooperative society
  C) thirft cooperative society
  D) business association
  Show Answer
  The correct answer is C .
• Question 3: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .
• Question 4: Which of the following is a legal tender? Options:
  A) Cheque
  B) Travellers cheque
  C) Bank note
  D) Goldsmith receipt
  Show Answer
  The correct answer is C .
• Question 5: A written partnership contract is known as? Options:
  A) an invoice
  B) a deed
  C) a prospectus
  D) a proposal
  Show Answer
  The correct answer is B .
• Question 6: The federal Government made efforts at rendering public enterprises more efficient and profit-oriented through the process of Options:
  A) privatization
  B) commercialization
  C) indigenization
  D) nationalization
  Show Answer
  The correct answer is B .
• Question 7:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 8: Factors considered when setting up a retail business is one of the following _________ Options:
  A) capital, experience and trading
  B) experience, term of trade, and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .
• Question 9: The limit of functions, activities and personnel that a supervisor can effectively manage in a business organization is? Options:
  A) span of control
  B) delegation of authority
  C) chain of command
  D) authority and rsesponsibility
  Show Answer
  The correct answer is C .
• Question 10: Governments impose import duties for the following reasons EXCEPT Options:
  A) to raise revenue for other services
  B) to act as a retaliatory measure against other governments
  C) to discourage the redistribution of income at home
  D) to protect home industries from external competition
  Show Answer
  The correct answer is C .